Refineries in Europe look for alternative crude supplies

Refineries in Europe are looking for alternative crude supplies as they shun Russian imports following Moscow’s invasion of Ukraine. Poland’s PKN Orlen is ramping up crude oil deliveries from Saudi Arabia and spot North Sea crude purchases following Russia’s invasion of Ukraine. “PKN Orlen reached an agreement on increased deliveries of five additional tankers from

Green hydrogen project construction to begin soon in Saudi Arabia

Work is to begin this month on a $5bn project to produce green hydrogen at Saudi Arabia’s futuristic Neom mega-development. When complete in 2026, the plant will be the world’s biggest producer of hydrogen from renewable sources. The plant is being built by Pennsylvanian company Air Products, which agreed a deal for the scheme in

Saudi Arabia is China’s top crude supplier

Saudi Arabia regained the spot as China’s top crude supplier in the first two months of 2022, having been leapfrogged by Russia in December, while Russian shipments dropped 9% as a cut in import quotas led independent refiners to scale back purchases. Arrivals of Saudi crude totalled 14.61 million tonnes in January-February, equivalent to 1.81

How trump’s oil policies driven profits for Putin and fossil-fuel promoters

It was a double-whammy for two of then-President Donald Trump’s biggest patrons, Vladimir Putin and American fossil-fuel billionaires and their industry: the price of oil was too low. Between the pandemic-induced collapse in demand for oil and the price war Saudi Arabia was then fighting with Russia — two of the world’s largest producers —

Saudi Arabia transfers 4% of Aramco to wealth fund

Saudi Arabia has transferred 4% of the shares in state-controlled Saudi Aramco to the country’s sovereign wealth fund, the Public Investment Fund (PIF), the government said today, in a move aimed at supporting efforts to restructure the kingdom’s economy and diversify it away from oil. The transfer, which was announced by Saudi Crown Prince Mohammad